CONG MINH TRADING COMPANY LIMITED

CONG MINH TRADING COMPANY LIMITED (CÔNG TY TNHH THƯƠNG MẠI CÔNG MINH): Sharp Revenue Fall and Profit Collapse Raise Financial Alarms

For over two decades, CONG MINH TRADING COMPANY LIMITED has operated as a key regional player in Bac Giang Province’s petroleum and fertilizer trading market. Registered under tax code 2400292738, the company is headquartered at No. 237 Hung Vuong, Hoang Van Thu Ward, Bac Giang City, Bac Giang Province, Vietnam, and currently remains in active operation. But its most recent financials for 2023 suggest that this once rapidly growing enterprise may now be teetering on a financial cliff.

Founded on September 17, 2003, and fully privately held, CONG MINH TRADING COMPANY LIMITED is run by Director Mr. Nguyen C. M., who also controls a majority 69.44% ownership, with Ms. Trinh T. H. holding the remaining 30.56%. The company operates with a modest workforce of 60 employees, but has long punched above its weight in the wholesale of fuels, lubricants, and fertilizers—contributing to its reputation in Vietnam’s trade and logistics sector.

However, the 2023 data reveals a jarring trend. While total assets grew 6.57% to reach USD 21.84 million, total revenue plummeted by 37.78%, falling from USD 237.66 million in 2022 to USD 147.89 million. Worse still, net profit collapsed by 99.41%, from over USD 4 million to a meager USD 24,086, marking one of the steepest profitability declines among regional private trading companies. This figure is particularly alarming when placed next to the company’s still-substantial revenue—indicating eroded margins, possibly due to cost inflation, poor inventory turnover, or trading inefficiencies.

Meanwhile, owner’s equity dropped 16.91% to USD 11.99 million, reflecting a shrinking retained earnings base. The decline in equity combined with a sharp profit collapse should be seen as a red flag for investors and credit risk analysts relying on accurate Vietnam private financial data. Although working capital remains positive at USD 4.99 million, the rapid erosion of profitability poses immediate risks for creditors and trading partners.

While the company is still involved in a wide variety of registered activities—from fuel trading and fertilizer distribution to the manufacture of refractory and cement products, wood processing, and even coal mining—the financial trajectory of 2023 casts doubt on the sustainability of such diversification. If operating inefficiencies or cost mismanagement are not swiftly addressed, CONG MINH TRADING COMPANY LIMITED could find itself facing liquidity strain or even solvency issues in the near future.

In sum, CONG MINH TRADING COMPANY LIMITED—once a regional success story in Bac Giang—now faces serious headwinds. The company’s substantial decline in revenue and near-total profit evaporation demand close monitoring from financial institutions, business information providers, and trading partners seeking to verify the company’s creditworthiness and future viability.